The Private Equity business area, which expanded in 2017 thanks to a joint venture with Private Equity Partners and the subsequent establishment of EPS Equita PEP SPAC, is dedicated to creating opportunities for investment in private capital, with high returns in the medium and long term and able to meet the changing needs of the markets.
The SPAC initiative
The special-purpose acquisition company EPS Equita PEP SPAC is the first initiative promoted by Equita and Private Equity Partners with the aim of putting at the service of investors and target companies their skills and experience that are unique in the Italian market. In 2017, following the placement to institutional investors for a total of € 150 million, EPS Equita PEP SPAC ordinary shares were admitted to trading on AIM Italia.
In January 2018, EPS Equita PEP SPAC announced the first business combination between the SPAC and Industrie Chimiche Forestali, a leading company in Italy in the field of fabrics for toe-puffs and counters and adhesives for the footwear, leather goods, automotive and packaging sectors. The business combination was then completed in May 2018 after having acquired 100% of Industrie Chimiche Forestali for approximately € 69 million, and led the ICF group to be admitted to trading on AIM Italia, following the partial and proportional demerger of EPS Equita PEP SPAC (which gave rise to EPS Equita PEP SPAC 2, with a capital of approximately € 74 million and which was admitted to trading on AIM Italia).